15 Jul 2022
Chemical Industry Booming at Patparganj Industrial area.
The chemical industry is directly or indirectly associated with 96% of all manufactured goods. There is hardly any aspect of our life the chemical companies do not have a role to play. Be it safe drinking water to processed foods, to the tyres fitted on vehicles that provide mobility to even making computing possible, chemicals have a major role. Chemical companies manufacture anything from alum for safe drinking water to
With more than 80,000 commercial products to offer the Indian Chemicals manufacturing industry is estimated to be a US$178 billion industry contributing nearly 7% to the country’s GDP. By 2025 this industry is expected to reach a turnover of US$ 300 billion. Employing nearly 2 million people, the Indian chemical industry is the sixth-largest in the world and third in Asia and accounts for 3% of the global chemical industry. Patparganj Industrial Area is one of the prime areas in Delhi NCR. The specialty chemicals sector has grown 12% on a compounded basis over the past five years to $32 billion in 2020 and is expected to register high growth to become a US$ 40 billion sub-sect by 2025.
Indian chemical companies are both importers and exporters of chemicals. This sector stands at number four as far as exports go and ranks third in import ranking. India exported a record USD 29296 Mn worth of Chemicals in 2021-22. The country is ranked the second-largest manufacturer and exporter of dyes
A report by CRISIL states “The Indian specialty chemicals industry will outpace its Chinese counterpart and double its share of the global market to ~6% by 2026 from 3-4% in fiscal 2021. This will ride on strong revenue growth of 18-20% this fiscal and 14-15% in the next, compared with single-digit growth in the previous two fiscals.”
Traditionally and often falsely accused of being a key factor in environmental pollution, Indian Chemical manufacturers have been at the forefront of ensuring that sustainability and environmental protection are at the core of their corporate philosophy. Today chemical factories have stringent environmental controls including Recycling Hazardous Industrial Waste, zero water discharge, catalytic convertors for emission control, utilization of solar energy, and waste heat recovery.